Polish Business Survey
Difficult times ahead for stocks
The stock market plummeted on Monday caused by a drop in confidence in the shares of Internet and new technology shares. Analysts are now warning of difficult times ahead and suggest that investors should be extremely careful, holding off share purchases of all types of company including traditional stock.
Karen Notebook diversifies
Warsaw based Karen Notebook, one of the major suppliers of portable computers since the early 1990s is hoping to enter the stock market. In order to attract investors Karen is reducing its dependency on notebook computers and looking towards new areas of business like software and an internet portal.
Elektrim announces internet plans
The avalanche of new internet companies starting up in Poland continued last Friday when Elektrim announced that it would introduce Elektrim on Line. The strategy is to provide infrastructure, e. commerce service as well as consulting.
Dexpol looks to expand
Within the next two to three years Wrocław based Dexpol, one of the largest Polish private fuel station networks, intends to increase the number of its stations from 33 to 100. The company is claiming that it will do this using its own resources and from loans.
Dexpol was founded in 1988 and now has 33 stations. By the end of this year it is claiming that it will have 40, the rest will come in the following years. However not all will be built from zero, some will be existing private stations.
Excise duty killing tobacco market
Shareholders of the Łódź based Łódzkiej Wytwórni Papierosów (ŁWP) will have to decide on 26 April at their AGM what they are going to do with their company. Last year it registered a loss and in accordance with Polish law the shareholders must either add more capital or demand an immediate restructuring of the company. The opinion of the management is that the PLN2m loss on a PLN92m turnover was caused by the high rates of excise in this country.
LOT ups its internet service
LOT has announced that it will adapt its IT systems to those of other companies in the Qualiflyer alliance. The company is now in the process of selecting a Polish provider to take care of its internet services.
Development agency to aid business
The EU has decided to offer help to the Polish private sector with the foundation of a business development agency which would give financial aid to small companies.
Brand war continues
An appeal court in Łodź has requested a revision of an earlier verdict concerning the use of the name Jan III Sobieski for a vodka. Last November a district court forbade Belvedere Dystrybucja to sell this brand as the name is owned by BAT for its cigarettes. The case will now continue although the appeal court gave no reason for its decision.
AdŐ umbrella organisation founded
Owing to the difficult nature of combining the work of the three most important sectors of the advertising industry — the agencies, the media and the advertisers — the Polish Advertising Forum (FPR) has been born. However the appearance of this umbrella organisation for the industry could well effect those companies dealing with viewing statiwhose very existence may be threatened.